Samford Trustees Name Building, Approve Budget

The naming of a new campus arena, approval of budget and faculty appointments were highlights of the regular spring meeting April 20 of Samford University's board of trustees. It was the final trustees meeting for Samford President Thomas E. Corts. The meeting preceded a banquet for the retiring Corts, and his wife Marla.

Pete Hanna Arena is the name designated for Samford University's $32 million sport-fitness and special events center. Trustees chose to honor Hanna, president, chief executive officer and chairman of Hanna Steel Corporation of Fairfield.

The new 132,000-square-foot, $32 million arena/multipurpose facility is scheduled for completion in late 2007. Hanna is founder/president of Hanna Steel Corp. and has been a member of Samford's board of overseers since its founding in 1995. He attended Samford in the late 1950s and played on the football team.

"Pete Hanna is one of the outstanding unheralded citizens of this community," said Corts. "He has a great heart. This man has done more quiet, unknown charitable kindnesses than any man I know. That makes it all the more fitting that Samford honor him in this way. He has built a business on Christian principles and on concern for his employees--all the while helping others."

Trustees approved an operating expenses budget of $122.9 million for the 2006-07 fiscal year, which begins June 1. The budget is an increase over the 2006-06 operating budget of $115.8 million. Tuition revenue is expected to be about $76.4 million. The scholarships/grants budget increased from $15 million to $17.8 million.

Trustees also approved the title president emeritus for Corts, effective June 1. Corts is retiring May 31 after more than 23 years as Samford's president. He will have no official, ongoing responsibilities with the title, according to trustee chair William J. Stevens of Birmingham.

"We respect Dr. Corts' wishes that he did not want any official responsibilities after retirement," Stevens said, "but we know that he will always have a distinctive place in the life of Samford. This title recognizes our perpetual affection for Dr. Corts."

Two new degree programs were approved and changes were approved, including a new bachelor of science in business administration degree in economics and a joint master of theological studies/juris doctor degree between Samford's Beeson Divinity School and Cumberland School of Law.

The bachelor of general studies degree was changed to a bachelor of science in interdisciplinary studies.

In addition to actions, trustees heard a report that about $25.7 million has been committed to date for the "Promise for All Generations" campaign. Progress continues on the various campus improvement projects that are part of "The Promise," trustees were told. In addition to the arena, construction continues on the new music building/recital hall, tennis complex and campus-wide updating and expansion of heating and cooling systems.